Pune, popularly known as the Oxford of the East, has an educational legacy that’s hard to rival. While historically acclaimed for its educational institutions, in recent decades, Pune has swiftly transformed into a significant IT and fintech hub. The city’s fintech landscape is marked by a blend of established giants and dynamic startups, all striving to redefine India’s financial landscape. These entities are not just shaping digital payment gateways or innovative banking solutions; they’re also driving a paradigm shift in the real estate sector.
This article highlights the top fintech companies in Pune, showcasing pioneers in finance and technology. Ideal for entrepreneurs and investors, it offers key fintech insights.
Business landscape in Pune
Pune is a shining example of India’s move into the digital age. It’s buzzing with fintech activity. From digital banking to peer lending, the city has it all. Even newer technologies like AI and blockchain find a home here. Why? The local government backs innovation. Plus, the city’s young and tech-ready residents are eager for change. This mix creates the perfect space for new ideas. As Pune grows in the global fintech world, its deep roots in tradition mix with a thirst for the new. This balance makes Pune stand out, blending the past and future of finance.
Top fintech companies in Pune
OneCard
Industry: Consumer Payments
Company Type: Financial Services
Location: A-13 Varsha Park, Baner Gaon, Pune – 411045
Founding Date: 2019
OneCard has redefined the way we think about credit cards. With an intuitive mobile app, this relatively young company has already amassed USD 233M in funding. It’s no wonder that their app puts control back in the hands of consumers, letting them manage every aspect of their credit card usage. From instant rewards to foreign transactions, OneCard offers a user-friendly experience, combining all the features you would want in a credit card.
Fibe
Industry: Personal Loans
Company Type: Financial Services
Location: The Chambers, Viman Nagar Rd, Pune- 411014
Founding Date: 2015
Fibe is a digital-first company focusing on bringing loans to the masses. Their platform lets users check loan eligibility, offering loans for a myriad of uses. Backed by a substantial USD 143M in funding and investors like The Rise Fund, they’ve been able to deliver on their promise to make loans accessible and straightforward. All the while, their mobile applications for Android and iOS ensure that their solutions are just a tap away.
Lentra
Industry: Loan Lifecycle Management
Company Type: AI & Fintech
Location: Pune
Founding Date: 2018
Lentra aims to make loan management easier for banks and lenders through AI-enabled solutions. With USD 104M in funding, they offer an array of services that cover every phase of a loan’s lifecycle, from origination to servicing. Their platform is extremely customisable, allowing institutions to tailor their loan offerings. With plug-and-play tools and API-based integrations, Lentra is truly a one-stop solution for modern loan management.
Lend Partnerz
- Industry: Invoice Discounting
- Company Type: Financial Services
- Location: City Centre, 201, Karve Rd, Pune – 411004
- Founding Date: 2017
Lend Partnerz goes beyond the traditional norms of invoice discounting. Their platform serves as a marketplace that connects vendors seeking immediate invoice payments with investors looking for short-term investment opportunities. By facilitating these connections, they help vendors manage their cash flow more efficiently. Additionally, the firm has partnered with major players in the banking sector to set up escrow accounts, further ensuring a smooth and secure transaction process.
Vayana
Industry: Supply Chain and Invoice Financing
Company Type: Financial Services
Location: Shivkamal, Shivaji Nagar, Pune – 411016
Founding Date: 2009
Vayana brings a unique solution to the table, focusing on supply chain and invoice financing. Having raised USD 62M in funding from investors like IFC and PayU, Vayana has managed to create an end-to-end platform that allows both buyers and sellers to streamline their financial transactions. Their system not only approves and finances trade documents but also extends its utility to offering commercial limit cards to buyers.
Loop Health
Industry: Health Benefits Administration
Company Type: Healthtech & Fintech
Location: Vikram Nandadeep Apartments, Gokhale Nagar, Pune – 411016
Founding Date: 2018
Loop Health brings health benefits administration to the 21st century, focusing specifically on employee wellness. With $40M in funding from reputable investors like General Catalyst and Optum Ventures, they offer group health insurance and other perks. But Loop Health isn’t just about insurance; it also provides platforms for preventative screening and specialised medical opinions. Their platform integrates these components seamlessly, thereby revolutionising how businesses manage health benefits for their employees.
LoanTap
Industry: Consumer and Business Loans
Company Type: Financial Services
Location: Hermes Waves, 103, Kalyani Nagar, Pune- 411006
Founding Date: 2016
LoanTap is the kind of company that understands loans are not a one-size-fits-all affair. They have garnered $34M in funding to create a versatile platform offering everything from personal loans to house owner loans. Available on iOS and Android, LoanTap makes it easy for users to secure the financial support they need, tailored to their specific circumstances.
Sarvatra Technologies
Industry: Banking Solutions
Company Type: Software
Location: Siddh Icon, Survey No. 1/1, Baner, Pune – 411045
Founding Date: 2000
Sarvatra Technologies is a veteran in the banking solutions industry. With $26M in funding and a longstanding presence dating back to 2000, they have been consistent in delivering robust solutions to cooperative banks, credit societies, and urban banks. From payment platforms to mobile banking solutions, Sarvatra is a comprehensive service provider that fortifies small and medium-sized banks with big-bank technology.
PayPhi
Industry: Payment Processing
Company Type: Financial Services
Location: Commerzone IT Park, Yerawada, Pune – 411006
Founding Date: 2015
With a funding pool of $5M, PayPhi offers omnichannel payment processing solutions that extend beyond traditional boundaries. They facilitate everything from in-store transactions to intricate payment gateways, streamlining the entire payment experience for businesses. With additional features like merchant onboarding and API integrations, PayPhi makes payment processing a cinch.
Easebuzz
Industry: Payments
Company Type: Financial Services
Location: The Social Street, Hinjewadi Village, Wakad, Pune – 411057
Founding Date: 2014
Easebuzz might be the youngest on this list with $4M in funding, but it packs a punch. Aimed at simplifying payments for businesses, it offers an array of services that include enabling working capital loans and seamless payouts. It even allows businesses to manage both their receivables and payables, thanks to a set of robust APIs and cost-effective solutions.
BharatPe
Industry: Consumer Payments
Company Type: Financial Services
Location: Dhole Patil Road, Pune – 411045
Founding Date: 2018
BharatPe was started in 2018 with the mission to build a holistic FinTech platform for offline merchants and small businesses. Today, BharatPe offers a suite of simple, easy-to-use and secure fintech products including payments and business loans to its merchant partners. The company has an extensive network of 10 million merchants across 400+ cities in the country. BharatPe’s consumer offering postpe is one of the fastest-growing products in the Buy-Now- Pay-Later industry.
Paytm
Industry: Consumer Payments
Company Type: Financial Services
Founding Date: 2010
Paytm is India’s largest leading payment gateway that offers comprehensive payment services for customers and merchants. They offer mobile payment solutions to over 7 million merchants and allow consumers to make seamless mobile payments from Cards, Bank Accounts and Digital Credit among others. Their investors include Softbank, SAIF Partners, Alibaba Group and Ant Financial.
PhonePe
Industry: Consumer Payments
Company Type: Financial Services
Founding Date: 2015
PhonePe Private Limited or PhonePe is an Indian e-commerce payment system and digital wallet company headquartered in Bangalore, India. PhonePe app was the first payment app built on Unified Payments Interface (UPI). The PhonePe app is available in over 11 Indian languages. Using PhonePe, users can send and receive money, DTH, recharge mobile, data cards, make utility payments, buy gold and shop online and offline. In addition PhonePe also allows users to book Ola rides, pay for Redbus tickets, order food on Freshmenu, eaf, fit and avail Goibibo Flight and Hotel services through microapps on its platform.
Commercial real estate demand in Pune
Office space
Pune’s evolution as a fintech nucleus has escalated the need for specialised office spaces, particularly in tech corridors like Hinjewadi, Kharadi, and Magarpatta City. As a result, a burgeoning demand for tech parks and smart office complexes has arisen, meeting the needs of these sophisticated businesses.
Rental property
The city’s growing reputation as a fintech hub with the influx of professionals is consequently boosting the demand for commercial rentals, both for office spaces and residential accommodations. Property owners and developers have acknowledged this demand, leading to a rise in construction activities tailored for the fintech community, thereby spurring competitive rental rates and enriched property values.
Impact
The flourishing fintech ecosystem, coupled with government initiatives promoting digitisation, has injected momentum into Pune’s real estate sector. This extends beyond the office spaces, with co-working establishments, fintech incubators, and innovation labs marking their presence, making Pune a city that’s steadily transforming into a fintech epicentre.
Impact of the fintech industry in Pune
The fintech boom has significantly influenced Pune’s real estate sector. Areas that were once quiet residential zones are now evolving into commercial hotspots, with modern office complexes and innovation hubs. The demand for upscale residential properties, especially in areas closer to these fintech hubs, has seen a sharp increase, leading to a promising upward trend in property valuations.
FAQs
How have fintech companies impacted real estate prices in Pune?
Pune's real estate scene is buzzing, thanks to the rise of fintech firms. Areas hosting these companies have seen a spike in property values due to growing commercial and residential needs.
Are there specific areas in Pune where fintech companies are primarily located?
Many fintech companies in Pune are located in tech parks and business hubs like Hinjewadi, Kharadi, and Magarpatta City, which are known as IT and financial technology corridors of the city.
What is the average rental for office spaces in areas popular with fintech companies?
The average rental for premium office spaces in fintech hubs like Hinjewadi and Kharadi can range from ₹60 to ₹80 per square foot per month, but this can vary based on the exact location, amenities, and the size of the property.
Given the growth of fintech companies, which residential areas in Pune are in demand?
Areas like Baner, Aundh, Balewadi, and Wakad have seen a spike in demand for residential properties due to their proximity to fintech hubs and their well-developed infrastructure.
Are there new residential projects being developed near fintech areas in Pune?
Yes, many developers are launching new residential projects around fintech hubs, anticipating increased demand from professionals working in these companies.
What is the average rental for a 2BHK apartment near a fintech hub in Pune?
A 2BHK apartment near a fintech hub like Hinjewadi or Kharadi might have rentals ranging from Rs 20,000 to Rs 30,000 per month, depending on the society's amenities and the exact location.
How well-connected are the fintech hubs in Pune to the main city?
Pune's fintech hubs are well-connected to the main city through a network of roads and public transportation. For instance, areas like Hinjewadi have good connectivity to central Pune via the Mumbai-Bengaluru highway.
Upcoming infrastructure projects in Pune that will further boost the fintech sector?
Absolutely. The ongoing Pune Metro project and the proposed 128 km Ring Road will significantly enhance city connectivity, benefiting the fintech sector. Additionally, Pune Airport's expansion and a new international hub in Purandar will boost the city's global reach.
Has the growth of fintech companies influenced the type of amenities offered?
Indeed. Catering to the tech-oriented youth in fintech, new homes now boast features like shared workspaces, ultra-fast internet, intelligent home systems, and special tech corners.
Is it advisable to invest in real estate near fintech hubs in Pune?
The growth trajectory of fintech companies in Pune suggests a promising future. Investing in real estate near these hubs can potentially yield good returns, considering the rising demand and the city's developing infrastructure.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
